Uniswap aims to deploy its version 3 decentralized exchange on BNB Chain before its business source license expires on April 1. LayerZero, a target of recent criticism for under-publicized security risks, finished second in the voting.
On Tuesday, landing on the password bridge platform Wormhole won the community vote, becoming the Uniswap official road bridge renovation. Uniswap is a decentralized exchange platform with large trading volume, and its version number 3 platform is entering the BNB chain of Binance.
This victory brings a valuable new boundary to the ongoing war of wormholes in the middle of the bridge platform. The bridge platform is an important part of the login password infrastructure, which allows users to transfer property and other data information in the middle of the block chain. Wormhole Bridge will eventually be used to provide Uniswap v3 customers in the BNB chain with the ability to participate in Uniswap DAO according to the entire governance process of Ethernet Fong.
Uniswap DAO allowed Uniswap's Uni OTP holders to vote on important business strategies, and 62% of the votes were in favor of wormholes. Leading wormhole competitor LayerZero came in second with 37% of the vote.
Technically, the vote is a "data signal" proposal, which means that it is not easy to automatically assemble wormholes into Uniswap's official BNB bridge. This conclusion, in turn, means that wormholes will be included in the official proposal to deploy Uniswap v3 on the BNB chain.
The purpose of Uniswap is to deploy on BNB Chain before the source code license for commercial services expires on April 1st. Once the license expires, the impersonation show will be able to copy Uniswap's code to run competitive new projects.
In an earlier "temperature test" proposal, 80 per cent of Uni voters indicated that they were in favour of including Uniswap v3 in the BNB chain. However, the proposal identified Celer as Uniswap's partner in bridge rules, which lost this week's vote. Following the victory of the wormhole in this week's vote, Uniswap DAO rejected CELERCEO's proposal to deploy Uniswap v3 to BNB chains that apply several different wireless bridge service providers.
Cross-chain bridge mode attack
Before this week's vote, the key focus of the community discussion was the security risks. This week's vote took place between January 27th and 31st. Historically, the login password bridge has been proved to be the main goal of network hackers. As we all know, wormhole is the target of a $325 million attack in February 2022. According to REKT, that attack was still the fifth largest in the history of login passwords, but the stolen assets were eventually repaid to consumers by Jump Crypto, a key advocate of the wormhole.
The victory of the wormhole means that the service is gradually returning to normal from a severe blow in credibility-at least in Uni's governance community.
More than 8000 data encryption wallets participated in this week's proposal, with a total of 45 million UNI dynamic passwords. At the current price of $6.60 for Uni, the total amount of tokens commonly used in this week's voting is $300m.
The vote came a day after LayerZero, a key competitor for wormholes, faced charges of underreporting a key "side door" vulnerability in its code. LayerZero denies the charge and says it is committed to jeopardizing its credibility before the Uniswap vote.